Businesses are underestimating the effects of bad data management. According to statistics, one in every five businesses is losing a customer due to poor data management. Besides losing customers, businesses are also losing large amounts of dollars in lost revenues. Inaccuracy and incomplete data is a phenomenon that organizations have to rectify if they are to recover lost revenues and customers.
There are three main data problems that companies are grappling with: 1. Protecting data privacy In this day and age, data privacy has become a very sensitive issue. Hacking and phishing have presented grave challenges to businesses and placed clients’ information at jeopardy of misuse. Once a client’s information is compromised then a company will lose that client and stand to face the consequences of such data breaches. A client could even sue the business. Every business must prioritize data privacy as the consequences may be too costly to bear. 2. Having accurate data 26% of businesses are still dealing with the problem of data accuracy. In recent reports, 20% of businesses have reported losing a customer because of inaccurate information. Companies are not only losing clients but have also failed to sign new customers because of the issue of data accuracy. Inaccurate data has consequently led to inaccurate financial forecasts that have even led some businesses to offer too much credit to **customers. Clearly, inaccurate data has led companies to lose customers and record huge losses in revenue.
- Analyzing and processing data 24% of businesses are having a problem with data analysis and processing. Companies have lots of data to handle. However, these companies have great challenges when it comes to analyzing and processing the data. Without adequate data analysis and processing, businesses are bound to lose customers and revenues. Proper data management is an integral part of any business. Data management continues to be even more necessary in this data-driven age. Fortunately, Data Suisse is a company aimed at helping businesses with proper data management. How Data Suisse helps Matchgrade is one of the services offered by Data Suisse. This service helps companies to get their corporate data ready for better human-based or automated decision making. Using artificial intelligence, Matchgrade has structures which migrate, clean, validate and deduplicate data sets. Our service handles every kind of data from entity data to financial data and any other kind of data. Data Suisse:** • Transforms and improves corporate data to improve human and AI-based decision making • Uses complex algorithms for a distinct data grade for the best quality • Processes any data type from any source using top tier AI-based technology • Harnesses high quality data due to its extended capabilities for better human or automated decisions By now, you ought to realize the importance of quality data in making human-based or automated decisions. Empowered decision making is what makes the difference between successful and unsuccessful businesses.
Data Suisse is the company for you. You can find out more about our services on www.datasuisse.com.